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Dec 28, 2012
12/12
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a number of companies will, you know, dive over the fiscal cliff, and i'm tired of the "fiscal cliff" term, pardon me, it's a manmade term, the fc, whatever happens january 1st. here's why they get sales from government contracts. that's the deal. it's not just the lockheed martins of the world. you'll see in here, humana, other health care companies, of course, medical device companies hit with the tax, but they have striker, for example, and there's a lot of sales from government contracts. you'll see in here, look at that, motorola, holdings in and waste management companies like waste management and republic services, ashley. ashley: what are the stock prices on the companies, iz? >> good point. goldman sachs warned since 2011 when that debt ceiling crisis hit in the summer of 2011 that triggered the fiscal cliff learning that the companies could under perform, but there's another wall street player, and that's fidelity saying watch for the banks, not just because they are under pressure as they track the general economy, but it's because business capital spending is down as of th
a number of companies will, you know, dive over the fiscal cliff, and i'm tired of the "fiscal cliff" term, pardon me, it's a manmade term, the fc, whatever happens january 1st. here's why they get sales from government contracts. that's the deal. it's not just the lockheed martins of the world. you'll see in here, humana, other health care companies, of course, medical device companies hit with the tax, but they have striker, for example, and there's a lot of sales from government...
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Nov 27, 2012
11/12
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CNBC
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who's right on the fiscal cliff right now? >> well, i think that -- >> steven gilfoil. >> the consumer isn't paying that much attention to this. the regular american doesn't watch the financial news. he isn't reading the kinds of papers we read. and he's less concerned with this. >> should they be? >> they probably should be, but investors are more concerned with corporate news, with macroeconomic news. the senator made a statement today. you would expect some kind of posturing this week. we're still 30 days out or so. they don't really have to cut a deal yet. they have to look like they're fighting for what they want to fight for, yet please the constituents. they're probably going to put that off for a couple weeks. >> it's the other way around. washington should be paying attention to the consumer and realize how much is the stake here. when you look at the consumer confidence levels able to hold up. when you look at the retail sales numbers pensimentioned by and the idea we've stabilized when it comes to capital spending,
who's right on the fiscal cliff right now? >> well, i think that -- >> steven gilfoil. >> the consumer isn't paying that much attention to this. the regular american doesn't watch the financial news. he isn't reading the kinds of papers we read. and he's less concerned with this. >> should they be? >> they probably should be, but investors are more concerned with corporate news, with macroeconomic news. the senator made a statement today. you would expect some kind...
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Nov 27, 2012
11/12
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CNBC
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you have to do things now to get ready for the fiscal cliff. >> the fiscal cliff is coming. you are very well advised to take the lump sum today. even before you do that it is important that you think about your security. for my wealthy families i manage a family office so that would include our lottery winner. we practice a stealth strategy. lifestyle, transitioning and humanity which is charity. all of those things are important. the first thing you should do if you win tomorrow is to not tell anyone. you don't want people to know. >> i have pondered this question. a lot of states require that you show up. it is very difficult to stay secret because they want a lot of publicity. what happens is if you are poor and you have a lot of friends and family who are poor they come to you for money. >> you can have a day or two before you show it. the first thing i advise people to do is contact a very reptutable security firm. they are going to make sure that you are relocated to a safe place. if you are not a celebrity already. >> you said security firm i thought you meant securi
you have to do things now to get ready for the fiscal cliff. >> the fiscal cliff is coming. you are very well advised to take the lump sum today. even before you do that it is important that you think about your security. for my wealthy families i manage a family office so that would include our lottery winner. we practice a stealth strategy. lifestyle, transitioning and humanity which is charity. all of those things are important. the first thing you should do if you win tomorrow is to...
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Nov 29, 2012
11/12
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we go off the fiscal cliff. 2013 comes. we go into recession. doesn't that hit corporate earnings, which, of course, has been the best part of this recovery anywhere? >> there's no question about that. i would contend that the market has probably already factored most of that in. when you can buy a number of stocks -- in the hodges small cap fund, we have a number of stocks trading below their growth rate. that's telling you that the market is not expecting good growth. when you can buy stocks that are growing at 20% a year at ten times earnings, that's a good valuation. there are a number of those situations there that we're seeing left and right. >> got to go, guys. >> okay. >> sorry, jeff. you know how that works. you guys on the website, you get unlimited amount of space. just go on. >> tell me editor. >> i know. >> thanks, guys. see you soon. let's get over to jackie deangelis with a quick market flash. >> hey, there. watching shares of super value tanking on a headline that talks have stalled. reportedly struggling to get financing for a s
we go off the fiscal cliff. 2013 comes. we go into recession. doesn't that hit corporate earnings, which, of course, has been the best part of this recovery anywhere? >> there's no question about that. i would contend that the market has probably already factored most of that in. when you can buy a number of stocks -- in the hodges small cap fund, we have a number of stocks trading below their growth rate. that's telling you that the market is not expecting good growth. when you can buy...
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Dec 27, 2012
12/12
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fiscal cliff or no fiscal cliff. ♪ ♪ [ male announcer ] this is karen anjeremiah. they don'know it yet, but they' gonna fall in love, get married, have a couple of kids, [ children laughing ] move to the country, and live a long, happy life together where they almost never fight about mon. [ dog barks ] because right after they get married, they'll find some retirement people who are paid on salary, not commission. they'll get straightforward guidance and be able to focus on other things, like each other, which isn't rocket science. it's just common sense. from td ameritrade. david: the president's back at the white house and the senate met today for the first time since going on the holiday break. but seems like the political train is still heading for a cliff. shibani: taking all of us with it. so where are we flow? -- so where are we now, just days away from tax hikes. fox business's rich edson is live from the capitol. where are we rich? any closer or exactly where we were about 12 hours ago? rich: we're about 12 hours closer to the fiscal cliff as far as negot
fiscal cliff or no fiscal cliff. ♪ ♪ [ male announcer ] this is karen anjeremiah. they don'know it yet, but they' gonna fall in love, get married, have a couple of kids, [ children laughing ] move to the country, and live a long, happy life together where they almost never fight about mon. [ dog barks ] because right after they get married, they'll find some retirement people who are paid on salary, not commission. they'll get straightforward guidance and be able to focus on other things,...
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Aug 8, 2012
08/12
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FOXNEWSW
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and how do you distinguish it from the fiscal cliff. >> the fiscal cliff, if they don't do anything, taxes will go up and spending will be cut and businesses are hunkering down. but we looked at it and we said, is that their main concern? or are they more concerned about the prospect of a second ork bottomma term? if you look at what he has promised to do in the second term, there is good reason for businesses to worry. for example, he said, i am going to raise taxes. he says, it's only on the rich. but he's admitted that he is going to raise taxes on small businesses. he says it will impact 2% of small businesses. that sounds like not very many. but when you figure that's 900,000 small businesses to see a tax increase. he also wants to raise capital gains taxes and dividend tax significantly. this will affect investments. so businesses are looking at that. they are thinking, this is not going to be good for us. he has also promised to continue to advance the regulatory machinery that has been turbocharged under his administration. and the first three years, he has put in place, regu
and how do you distinguish it from the fiscal cliff. >> the fiscal cliff, if they don't do anything, taxes will go up and spending will be cut and businesses are hunkering down. but we looked at it and we said, is that their main concern? or are they more concerned about the prospect of a second ork bottomma term? if you look at what he has promised to do in the second term, there is good reason for businesses to worry. for example, he said, i am going to raise taxes. he says, it's only...
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Dec 27, 2012
12/12
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gerri: i want to talk about another issue with you that is a fiscal cliff going over the fiscal cliff, what will that do to housing? >> the worst case scenario in the fiscal cliff if the tax increases and spending cuts come into effect would be bad for the economy and would really hurt housing demand. even if the fiscal cliff is solved, less damaging ways to resolve the fiscal cliff, the housing market still might be affected if the mortgage interest deduction is cut back severely. right now the mortgage interest deduction cost the government roughly $100 billion per year in revenue and getting rid of that would likely increase home values particularly in more expensive areas. gerri: rehear it would put the brakes on selling and home buying in those areas. what are the issues for you? you know all the issues and housing, what are you looking for next year? >> three things have been really important, the first is the inventories of homes for sale are down sharply. that is great news for home sellers because there is less competition. bad news for buyers. demand is also up, rising rent,
gerri: i want to talk about another issue with you that is a fiscal cliff going over the fiscal cliff, what will that do to housing? >> the worst case scenario in the fiscal cliff if the tax increases and spending cuts come into effect would be bad for the economy and would really hurt housing demand. even if the fiscal cliff is solved, less damaging ways to resolve the fiscal cliff, the housing market still might be affected if the mortgage interest deduction is cut back severely. right...
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Dec 30, 2012
12/12
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cliff because the fiscal cliff compass more than just taxes. you've got the quester and the unemployment insurance. the republicans and democrats know that they can't afford to go back in a recession at this point and the republicans are going to get blamed for it. the taxes still increased and y'all promised not to do that and on the other hand, if they make a deal now, they can go back and say look, we're not in total control. we only control the one branch of government so we made a deal to keep the taxes, you know, low on 98% of the country and that's to win. and as far as the sequester, the afford to lose all those military jobs. that's 100 million jobs possibly lost. and then you've got the unemployment, you know, two million people unemployment, they can't afford not to have that revenue injected into the system so i believe come monday, they're going to have a deal. i believe it. there's not -- they are not -- i'm going to guarantee you you guys. host: eve got a guarantee from antonio. joseph rosenberg who makes a living researching thi
cliff because the fiscal cliff compass more than just taxes. you've got the quester and the unemployment insurance. the republicans and democrats know that they can't afford to go back in a recession at this point and the republicans are going to get blamed for it. the taxes still increased and y'all promised not to do that and on the other hand, if they make a deal now, they can go back and say look, we're not in total control. we only control the one branch of government so we made a deal to...
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Dec 11, 2012
12/12
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we're asking for solutions to the fiscal cliff. joining me now is alan greenspan, former federal reserve chairman and now with greenspan associates. nice to have you back on the program. >> nice to be here. >> thanks so much for joining us. you have said there's no painless solution to the fiscal cliff here. what do you think the best possible outcome could be? >> the best possible outcome as far as i can see is to take something like simpso/bowles that came out originally and get the issue resolved. i've never seen anything like this. >> you've been around a long time and seen lots of parties fight. >> they always come to go. the difference now is that -- not that there are more differences than unusual. if you go back, there's a lot of data that suggests this is not unusual. what is unusual is the republicans don't speak to the democrats and vice versa? back then, i mean, not that far. >> they went to dipper and went to lunch and discussed issues. >> when i was in the white house, tip o'neill and jerry ford used to be at each oth
we're asking for solutions to the fiscal cliff. joining me now is alan greenspan, former federal reserve chairman and now with greenspan associates. nice to have you back on the program. >> nice to be here. >> thanks so much for joining us. you have said there's no painless solution to the fiscal cliff here. what do you think the best possible outcome could be? >> the best possible outcome as far as i can see is to take something like simpso/bowles that came out originally and...
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Dec 30, 2012
12/12
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it's important to remember this is not a fiscal cliff. the cliff as you say is something that occurs in nature. you come up on a cliff and if you don't slow down, you plummet to your death. this is a fiscal suicide vest. this is congress rigging the system and saying last year in 2011 it actually was, we can't be trusted to make good, mature decisions about what needs to be done. we're going to booby-trap the system, and if we can't act like adults this date certain, it will explode and be awful. it turns out enthuse kantd make the responsible decisions together. no one should mistake for a naturally occurring part of the legislative process. they created this disaster and can't deal with it. when they talk about how they wish he they could be home with their families, people will lose unemployment benefits. >> where do you see this ending? what's your gut instinct now? are we going to get -- because i hear from both sides at this point saying, well, we might be in a better position come january 2nd or 3rd or 4th. >> my gut instinct was w
it's important to remember this is not a fiscal cliff. the cliff as you say is something that occurs in nature. you come up on a cliff and if you don't slow down, you plummet to your death. this is a fiscal suicide vest. this is congress rigging the system and saying last year in 2011 it actually was, we can't be trusted to make good, mature decisions about what needs to be done. we're going to booby-trap the system, and if we can't act like adults this date certain, it will explode and be...
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Dec 29, 2012
12/12
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FBC
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>> it is, and we're talking about the fiscal cliff. we are really dealing with is the fiscal fraud. we fell off the cliff along time ago. we are in the best, $16 trillion in debt. a debt our children and grandchildren will never be able to pay off, a total fraud, not dealing with spending, and unless they do we are not going to fix the problems is a country is facing. tom: same point, i mean, is this something that will start tuesday or have businesses and individuals already started be having different because of the fact that this whole process was coming up in addition to what the congressman was talking about? >> certainly was tree has been reacting to this, but i very much disagree about the causes. that is when we extended tax cuts do so wealthy individuals in 2001 and three did not need them and then we saw an incredible decrease in revenue as a result of wall street tanking our economy in the 2008 economic downturn. it's not an issue so much of expanding -- expand spending. spending is not a control. what is happening is revenue has declined. we need to not only increasthe r
>> it is, and we're talking about the fiscal cliff. we are really dealing with is the fiscal fraud. we fell off the cliff along time ago. we are in the best, $16 trillion in debt. a debt our children and grandchildren will never be able to pay off, a total fraud, not dealing with spending, and unless they do we are not going to fix the problems is a country is facing. tom: same point, i mean, is this something that will start tuesday or have businesses and individuals already started be...
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Dec 12, 2012
12/12
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. >>> turning now to politics and the fiscal cliff negotiation. president obama and speaker boehner are keeping an open dialogue. speaking on the phone yesterday after trading secret proposals to avoid the year-end deadline. with few details revealed, officials say the president lowered his initial asking price on tax cuts to $1.4 trillion. president boehner took his displeasure to the house floor. >> we're still waiting for the white house to identify what spending cuts the president is willing to make as part of the balanced approach that he promised the american people. where are the president's spending cuts? the longer the white house slow-walks this process, the closer our economy gets to the fiscal cliff. >> president obama responded, showing republicans where they could find the details. >> it's not a mystery. we've seen this before. this is the document that contains the specific spending cuts. the speaker of the house sent us a proposal that was two pages long that included one sentence on revenue. the proposal here includes, i believe f
. >>> turning now to politics and the fiscal cliff negotiation. president obama and speaker boehner are keeping an open dialogue. speaking on the phone yesterday after trading secret proposals to avoid the year-end deadline. with few details revealed, officials say the president lowered his initial asking price on tax cuts to $1.4 trillion. president boehner took his displeasure to the house floor. >> we're still waiting for the white house to identify what spending cuts the...
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if we got the fiscal cliff. gerri: with the defense cuts come if we do over the cliff, it will cost $100 million or over that? >> 137 million. gerri: would this put you into the red? >> it certainly could. we are still looking at obama's health care plan and what it will do to the state budget. the federal strings are tied. i asked the president about this. the federal funds that come down to the state as you may cuts -- we can still have the strength attached to it. it doesn't give leeway to meet your unique circumstances in our state. we are all different. different budgets, different employment rates, different constitutions, different laws. different styles of living and means within our budget. give us some flexibility. gerri: i expect you to be a little bit more upbeat about the fiscal cliff, but i have to tell you, you sound like a lot of people in washington today. concerns over whether these leaders can get together and find common ground and resolve this issue. it would be meaningful to stay like yours
if we got the fiscal cliff. gerri: with the defense cuts come if we do over the cliff, it will cost $100 million or over that? >> 137 million. gerri: would this put you into the red? >> it certainly could. we are still looking at obama's health care plan and what it will do to the state budget. the federal strings are tied. i asked the president about this. the federal funds that come down to the state as you may cuts -- we can still have the strength attached to it. it doesn't give...
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Nov 29, 2012
11/12
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ben, what is your fiscal cliff strategy? what do you want to do with your money in the economy does go off the fiscal cliff? >> yeah, we were worried about that back in september, october. so even though we like the equity markets going into 2013, we wanted to hedge ourselves a little bit, so we took money out of equities. didn't just put it into cash. we put it into three areas we think are still good long term. one is we talk about emerging market equities, but i like emerging market debt. these monetary authorities are done tightening. they fought the inflationary problem that they had successfully. they're in hoed. yield curves could shift down. we stress doing it in local currency. the other areas are u.s. high yield, which i still think is valuable. we do think spreads will contract and emerging market equities as well. >> jordan, what about you? how are you preparing for what could be an eventuality where we go over the cliff and we've got to deal with higher taxes and a slower economy? a lot of people expecting reces
ben, what is your fiscal cliff strategy? what do you want to do with your money in the economy does go off the fiscal cliff? >> yeah, we were worried about that back in september, october. so even though we like the equity markets going into 2013, we wanted to hedge ourselves a little bit, so we took money out of equities. didn't just put it into cash. we put it into three areas we think are still good long term. one is we talk about emerging market equities, but i like emerging market...
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Nov 27, 2012
11/12
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of what people are calling the fiscal cliff. is the fiscal cliff cutting spending? the sequester? i don't think it leads to economic harm to cut spending. that's what we should be doing. the other half of the fiscal cliff is taxes will go up. i don't want them to go up. if you raise taxes on the top 1%, that's 50% of the nation's fiscal income. if you don't think raising taxes in a recession is a good idea, why would it be a good idea to raise them on anyone? >> greta: so do you think going off the fiscal cliff would necessarily be a bad thing? >> it would be a bad thing to raise taxes. it doesn't make sense to me. i don't accept that cutting spending is bad for the economy. i think cutting federal spending, which means less borrowing up here, is go for the economy, but i do think taxes going up is a bad thing for the economy. i agree with half of the equation of the fiscal cliff, but i don't agree if taxes going up is bad for the economy why would we only want half of the taxes to go up? >> greta: that's like the reverse of the
of what people are calling the fiscal cliff. is the fiscal cliff cutting spending? the sequester? i don't think it leads to economic harm to cut spending. that's what we should be doing. the other half of the fiscal cliff is taxes will go up. i don't want them to go up. if you raise taxes on the top 1%, that's 50% of the nation's fiscal income. if you don't think raising taxes in a recession is a good idea, why would it be a good idea to raise them on anyone? >> greta: so do you think...
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Jun 29, 2012
06/12
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a fiscal cliff. >> neil: delaware senator are chris kuhn says we are not headed towards a fiscal cliff. be that as it may, what do you make of the argument there was a great rush to get the bill done, maybe for all of the right reasons but not nearly the deal to ever cut spending. >> two things if i could, neil. there wasn't a great rush to get the bill done. talley came out of the senate committee last november and it has been grinding along between the senate and the house for several months. i am glad that the house and senate were able to come to an agreement and pass the transportation bill. because i think we do need to continue to invest in improving our roads and highways. is a contribution to our economy that will help not just put people to work in the short-term but also make us more competitive. but i agree, neil, there are many of us, republicans and democrats in the senate and the house who think we also have to come up with a bold balanced plan to reduce spending. we do have significant changes in tax rates, in spending, automatically kicking in in january, the so-called
a fiscal cliff. >> neil: delaware senator are chris kuhn says we are not headed towards a fiscal cliff. be that as it may, what do you make of the argument there was a great rush to get the bill done, maybe for all of the right reasons but not nearly the deal to ever cut spending. >> two things if i could, neil. there wasn't a great rush to get the bill done. talley came out of the senate committee last november and it has been grinding along between the senate and the house for...
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Nov 29, 2012
11/12
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are they worried that if indeed we get close to the fiscal cliff or we go over the fiscal cliff that that will affect their businesses? >> well, for us, we primarily focus on working with small, medium size businesses. fiscal cliffs and politics don't come up much in our conversations. we focus on creating customer unique rewards. i think businesses know from a consumer standpoint, it's greater than 90% are disposable income is spent within a couple of miles of your home. focusing on local, helping businesses retain customers an drive frequency in their local markets can really help drive through any potential impact of a fiscal cliff. >> jeff, what are you hearing in the valley about the fiscal cliff, how concerned are the other people that you talk to, the inknow vnovators out there, are millionaires, billionaires and many of whom are trying to start new businesses in the valley. >> you know, the perception is more about -- the talk is more about the potential impact on business and allowing -- not taking action to address this issue and letting it expire is bad for business. every
are they worried that if indeed we get close to the fiscal cliff or we go over the fiscal cliff that that will affect their businesses? >> well, for us, we primarily focus on working with small, medium size businesses. fiscal cliffs and politics don't come up much in our conversations. we focus on creating customer unique rewards. i think businesses know from a consumer standpoint, it's greater than 90% are disposable income is spent within a couple of miles of your home. focusing on...
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he will be the cause of goin over t fiscal cliff. i don't know what the republican leaders cannot hang onto that thought. they will be watching him, the reaction to the ultimatum, he will be sending the country over the fiscal cliff over what will amount to 8% of -- replacement of 8 percent of the deficit for fiscal 2013. it is mindless. >> as i said, i am quite nervous about this. i listen to speaker boehner say the day after the lection, revenue is on the table. the american people want to compromise an make washington work. he said it again and put out a specific offer. all we have heard from the president is a hard-line wasno negotiation on the tax side and not e word about the entitlement reforms that would have to match that for this plan to make any sense. and it is that absence of lead on the spending side nd unwillingness to make compromises that will actually get als done and have washington auction again that i think our marks aginst this lame-duck session. lou: you have projected, the action form has projected 10 million
he will be the cause of goin over t fiscal cliff. i don't know what the republican leaders cannot hang onto that thought. they will be watching him, the reaction to the ultimatum, he will be sending the country over the fiscal cliff over what will amount to 8% of -- replacement of 8 percent of the deficit for fiscal 2013. it is mindless. >> as i said, i am quite nervous about this. i listen to speaker boehner say the day after the lection, revenue is on the table. the american people want...
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Dec 31, 2012
12/12
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you can follow this at our fiscal cliff page at c- span.org/ficalcliff. joe manchin introduced a new bill that he said it would soften the impact of going over the fiscal cliff. he calls it deep cliff alleviation at the last minute -- he says he is not happy to write it. here is what he said at the floor. >> thank you. i will first of all thank both of my colleagues for the diligent work -- they have committed themselves to this work and i appreciate it. mr. president, i rise today frustrated, embarrassed, and angry. it is absolutely inexcusable that all of us find ourselves in this place at this time, standing on the floor of the senate in front of the american people hours before we plunge off the fiscal cliff. with no plan and no apparent hope. but here we are, and we have got to do something. if we are determined to go over the cliff, as we seem, we have to do something to stop and the landing. at the bottom of the fiscal cliff are immediate and massive tax increases, deep and indiscriminate spending cuts, and a risk of another recession. if we come d
you can follow this at our fiscal cliff page at c- span.org/ficalcliff. joe manchin introduced a new bill that he said it would soften the impact of going over the fiscal cliff. he calls it deep cliff alleviation at the last minute -- he says he is not happy to write it. here is what he said at the floor. >> thank you. i will first of all thank both of my colleagues for the diligent work -- they have committed themselves to this work and i appreciate it. mr. president, i rise today...
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Nov 25, 2012
11/12
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FBC
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. >> david: ready to go fiscal cliff diving? apparently a lot of businesses and shoppers are already afraid of the fall. i'm charles payne in for neil cavuto. with the holiday shopping season underway a lot of consumers are saying no way. and more an half sing the uncertainty around the fiscal cliff will impact their spending and job creators are cutting back on spending and a bad deal for the economy? well, let's ask. ben stein, dagen mcdowell, charlie gasperino and gary k. want to start with you. bad deal for all of us? >> of course, look, business investment was already down last quarter over 1%, and the word uncertainty just pervades the air and its business, its consumer, how about philanthropic organizations don't no what kind of write-offs for charity and the worst the outcome is probably going to be more, and taxes are going to go up and of course there will be no spending cuts. >> and ben, it does sound ominous, even if you're not someone who reads the wall street journal, the fiscal cliff, fiscal cliff, it could be the
. >> david: ready to go fiscal cliff diving? apparently a lot of businesses and shoppers are already afraid of the fall. i'm charles payne in for neil cavuto. with the holiday shopping season underway a lot of consumers are saying no way. and more an half sing the uncertainty around the fiscal cliff will impact their spending and job creators are cutting back on spending and a bad deal for the economy? well, let's ask. ben stein, dagen mcdowell, charlie gasperino and gary k. want to start...
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Dec 26, 2012
12/12
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talk about the fiscal cliff and politicians talk about the fiscal cliff. we're wondering whether mom and pops at home talk about the fiscal cliff. is a lack of a budget deal actually spooking shoppers out on main street? >> it is. walmart told us 75% of their customers have cite that had they are worried about the fiscal cliff. mandy, you and i were on last week talking about the luxury retailers and we called out saks saying business pre-holiday was particularly weak. what are the people in the stores telling me all week, saying that this is the worst pre-christmas they had seen in over a decade, and part of that was because their consumers are worried about the fiscal cliff, so note to the government. it does matter. >> yeah, but that's, as you say, part of it. laura, what else is going on? it just felt like we were going into a lackluster season here. what happened? >> i mean, there's been some discussion about weather trends as well, but whether or not we go over the fiscal cliff, consumers think next year we'll see higher taxes and lower entitlements.
talk about the fiscal cliff and politicians talk about the fiscal cliff. we're wondering whether mom and pops at home talk about the fiscal cliff. is a lack of a budget deal actually spooking shoppers out on main street? >> it is. walmart told us 75% of their customers have cite that had they are worried about the fiscal cliff. mandy, you and i were on last week talking about the luxury retailers and we called out saks saying business pre-holiday was particularly weak. what are the people...
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Dec 14, 2012
12/12
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the fiscal cliff? >> it could make a difference in life. i mean, it all depends on how you look at it. >> and what exactly is the fiscal cliff? >> i'm not sure exactly what that is. but, i mean, if you really think about it, i guess it could cause something, if you, like, researched it or whatever. >> are you worried about the fiscal cliff? >> yeah, kind of. >> what exactly is the fiscal cliff? >> it's a raise in taxes and -- yeah. now i'm going to look like a fool. i don't know. [ laughter ] uh-huh. i don't know. >> are you worried about the fiscal cliff? requi >> i guess, yeah. >> what is it? >> something to do financially. yeah. that's all that i can tell you. >> why are you worried? >> because you have a worried look on your face. >> it's not good. i know that. so yeah. >> do you know what it is? >> no, i really don't. you go off the cliff. >> are you worried about the fiscal cliff? >> no. >> what is it? >> well, the fiscal cliff i know is mr. huxtable. that's the only one i know. >> well, yeah. yo
the fiscal cliff? >> it could make a difference in life. i mean, it all depends on how you look at it. >> and what exactly is the fiscal cliff? >> i'm not sure exactly what that is. but, i mean, if you really think about it, i guess it could cause something, if you, like, researched it or whatever. >> are you worried about the fiscal cliff? >> yeah, kind of. >> what exactly is the fiscal cliff? >> it's a raise in taxes and -- yeah. now i'm going to look...
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Dec 30, 2012
12/12
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these fiscal cliff negotiations. which side will likely face the bulk of the blame if there is no deal. [ male announcer ] it's that time of year again. time for citi price rewind. because your daughter really wants that pink castle thing. and you really don't want to pay more than you have to. only citi price rewind automatically searches for the lowest price. and if it finds one, you get refunded the difference. just use your citi card and register your purchase online. have a super sparkly day! ok. [ male announcer ] now all you need is a magic carriage. citi price rewind. start saving at citi.com/pricerewind. citi price rewind. with a new project in mind, some how-to knowledge to give us an new years clutter is no match for someone with big ideas. edge, and more savings down every aisle. it only takes a few twists and turns for those bright ideas to make the new year even brighter. more saving. more doing. that's the power of the home depot. start fresh and save with hdx 20 gallon totes, a special buy at just $5.
these fiscal cliff negotiations. which side will likely face the bulk of the blame if there is no deal. [ male announcer ] it's that time of year again. time for citi price rewind. because your daughter really wants that pink castle thing. and you really don't want to pay more than you have to. only citi price rewind automatically searches for the lowest price. and if it finds one, you get refunded the difference. just use your citi card and register your purchase online. have a super sparkly...
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Dec 31, 2012
12/12
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CNBC
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>> right now, if we did the full fiscal cliff, the full fiscal cliff monty, perhaps is the best way it put it, we get rid of more growth in the economy than in all of 2011. it would be a negative number, essentially, mandy. like 4.2% of gdp. we grew up 4% of 2011. a negative number. take away from that all things being equal. depending on what the private sector did. a negative for the economy. every dollar they don't do on the fiscal cliff, that's a dollar that does not come out of the economy. but i think it is probably reason to consider. talking about what brian was talking about at the top of the show here. 1%, maybe 1.5% drag on growth of anything decided from the fiscal cliff anyway. >> and it depends on what you buy. i hear what you're saying with, steve and it is important to dive in. when you get a dollar you probably spend more than the dollar, right? they have shown that. that is the greatest multiplier. let's be clear on what that is on. necessities, food, clothing, which is needed. and on taxes, and there is not a lot of sympathy, but if you are a boat maker, high-end hom
>> right now, if we did the full fiscal cliff, the full fiscal cliff monty, perhaps is the best way it put it, we get rid of more growth in the economy than in all of 2011. it would be a negative number, essentially, mandy. like 4.2% of gdp. we grew up 4% of 2011. a negative number. take away from that all things being equal. depending on what the private sector did. a negative for the economy. every dollar they don't do on the fiscal cliff, that's a dollar that does not come out of the...
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Dec 27, 2012
12/12
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the result of the fiscal cliff here is not risk off. it's risk protation into those areas of the investable landscape. look at emerging markets, lock at europe. they are decoupling. if anything, price is still very bull ir. i would rather listen to price. >> why do you say it's still very bullish? >> they recovered almost completely the loss which means the markets thinks tax puts will still be in play. the market is saying it's okay, you know, we've had an increase in market cap this year in the s&p 500 over $1 trillion. >> right. >> that's more than the cliff. >> let me go to my facebook friend michael carr. you speak washington ese. the house is convening. the president is -- >> doesn't it just make you sick? >> the were inthing you want to watch is eachon javers. i thought it was a perfect graphic. it's fabulous. you can't make it up. >> what do you do when you don't know what's going to happen, and you really don't. if you can get the debt limit thing right and guess how it's going to turn out or guess that it's actually going to d
the result of the fiscal cliff here is not risk off. it's risk protation into those areas of the investable landscape. look at emerging markets, lock at europe. they are decoupling. if anything, price is still very bull ir. i would rather listen to price. >> why do you say it's still very bullish? >> they recovered almost completely the loss which means the markets thinks tax puts will still be in play. the market is saying it's okay, you know, we've had an increase in market cap...
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Dec 30, 2012
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are we going to avoid going over the fiscal cliff? >> i don't know. i think it's 50-50 as we go into the final hours here now. the fact that negotiations are ongoing is a good sign. i served on what was known as the biden group in the summer of 2011. unfortunately, at the end of the day, as you remember, the republicans walked out of those negotiations. why? for the same time they've abandoned all the negotiations so far, is they didn't want to ask high income individuals to share greater responsibility for reducing the deficit. they wanted to put that burden on the middle class. maybe in the final hours, something will change there. but it's important to understand that's exactly what's happening there. they're using the clock and the final hours and the threat of a slowing economy and higher taxes on middle income folks to try and get this leverage for bigger tax breaks for wealthy people. the more you provide tax breaks to folks at the top, the more the overall burden of dealing with our deficit, which we have to do over a long period of time, the
are we going to avoid going over the fiscal cliff? >> i don't know. i think it's 50-50 as we go into the final hours here now. the fact that negotiations are ongoing is a good sign. i served on what was known as the biden group in the summer of 2011. unfortunately, at the end of the day, as you remember, the republicans walked out of those negotiations. why? for the same time they've abandoned all the negotiations so far, is they didn't want to ask high income individuals to share greater...
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Nov 25, 2012
11/12
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am i surprised we facing this fiscal cliff now? no, because we put it in. we created this cliff because we thought it will be so terrifying that congress would actually be shaken to reach a bipartisan agreement to reduce the debt. that's what our responsibility is and the time between now and the end of this year. >> i think congress is reflecting the nation. i think we are very divided. not in the goal, but how we get there, and i think america is too. i think that is reflected i think we now know that americans expect us to go forward, and we have no choice but to go forward. >> i think kay has made a very important point. one of the things that's troubled me about the analysis of congress is people act as if we're in a bubble and we just were self-generated. i mean, there are few people in this building that are here because they didn't get -- they should be doing self-criticism. it's exacerbated by one of the great inventions, creations of our humanity, which is the american constitution. at any given time america is governed by the results of three ele
am i surprised we facing this fiscal cliff now? no, because we put it in. we created this cliff because we thought it will be so terrifying that congress would actually be shaken to reach a bipartisan agreement to reduce the debt. that's what our responsibility is and the time between now and the end of this year. >> i think congress is reflecting the nation. i think we are very divided. not in the goal, but how we get there, and i think america is too. i think that is reflected i think...
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Dec 27, 2012
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we're going over the fiscal cliff but shortly there after, gold is going. long term i want gold but short term not so much. >> now you know what these guys think. what about you? if we do go over the cliff, would gold go higher or lower. tell us. sean egan tells us if going over the cliff would mean a slash in the credit rating and ralph acampora, two shows, 1:00 p.m. >> we'll catch you at the top of the hour. give me a target for gold next year. it's at $1660. are we going substantially higher or towards 15? are not and gold and silver has had every reason to move higher in the fourth quarter in 2012. it has not. i think the love affair hedge funds have had with gold is over and view 2013 is the year gold will finally under-perform. >>> coming up, delta's flight status, can it continue its flying stock market run into the new year, one stock, two opinions. we debate it. >>> home prices on track positive for the first time since 2006. which real estate stocks are traders banking on now? >>> japanese stocks trading on highs as the market plunges. ♪ [ cows
we're going over the fiscal cliff but shortly there after, gold is going. long term i want gold but short term not so much. >> now you know what these guys think. what about you? if we do go over the cliff, would gold go higher or lower. tell us. sean egan tells us if going over the cliff would mean a slash in the credit rating and ralph acampora, two shows, 1:00 p.m. >> we'll catch you at the top of the hour. give me a target for gold next year. it's at $1660. are we going...
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Nov 28, 2012
11/12
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fiscal cliff? >> yes. obviously, we are leaving it to speaker john boehner and the house. the republican negotiating position and the president representing the democrats in the house and the senate. to make the -- to present the -- their conclusions to the rest of us to evaluate and vote on. but it has to be voted on in the house of representatives. the republican house members need to support it for it to pass. in the senate, it is not just enough for 51 democratic senators to be supportive. the rules permit the minority to have some rights -- until the rules are changed. as a result, we do have a voice. it has to be something that is acceptable to the senate republicans, as well as house republicans. >> have you seen any indication that senator harry reid wants to cut -- any spending? >> no. >> none? >> you never get him to talk about reducing spenning by a dime. it's always about adding revenue. they are not even satisfied to have more money. they have to specify where it comes from. rich peopl
fiscal cliff? >> yes. obviously, we are leaving it to speaker john boehner and the house. the republican negotiating position and the president representing the democrats in the house and the senate. to make the -- to present the -- their conclusions to the rest of us to evaluate and vote on. but it has to be voted on in the house of representatives. the republican house members need to support it for it to pass. in the senate, it is not just enough for 51 democratic senators to be...
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Dec 24, 2012
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. >>> but first eight days until the fiscal cliff deadlines, through the has of congress not a creature is stirring, not even a lawmakers. hopes of a deal are fading. before taking off, the president urged congress that pass a scaled-back stop-gap measure. >> senators agreed on sunday to pass -- >> i think unfortunately there will only be a small deal. >> it is going to be a patch. >> kristin welker, traveling with the president in honolulu. the question is will he be cutting hi vacation short? does he have a royal to play? or is it up to the senate, as some are saying? >> reporter: first of all, i think it is likely we'll see him cut his vacation short. senate majority leader harry reid, minority leader mitch mcconnell will have to work together. a lot of focus shifts to mcdonnell. he has to try to get something that will pass with republicans that they can get through the house and senate, but i think president obama certainly has a role to play. remember, he is the one who ran on the platform. >>> you heard him map out on friday. he would like a scaled-back version of the grand barga
. >>> but first eight days until the fiscal cliff deadlines, through the has of congress not a creature is stirring, not even a lawmakers. hopes of a deal are fading. before taking off, the president urged congress that pass a scaled-back stop-gap measure. >> senators agreed on sunday to pass -- >> i think unfortunately there will only be a small deal. >> it is going to be a patch. >> kristin welker, traveling with the president in honolulu. the question is will...
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Dec 29, 2012
12/12
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well, forget the fiscal cliff. washington might be sending cows washington might be sending cows off a cliff. ♪ music kids will spend 22 minutes watching us, the super duper party troopers, sing about ants in their pants. brushing for two minutes now, can save your child from severe tooth pain later. two minutes twice a day. they have the time. ♪ tom: washington still fighting over the debt deal. farmers are worried about dairy deal. the farm bill is set to expire at the end of the year along with everything else that is going on. the senate agricultural committee chairwoman pushing for a short-term extension to avert the cliff. but if that does not happen, no prices -- milk prices to go up to $8 per gallon. the supermarket group on how this is going to turn consumers soured. you bet that would. that's about double. >> it is about double. it will increase, hopefully not. you are between three and $4 a gallon. it is not just about melt. this is a food cliff. we talk about the financial cliff. keep in mind, we're
well, forget the fiscal cliff. washington might be sending cows washington might be sending cows off a cliff. ♪ music kids will spend 22 minutes watching us, the super duper party troopers, sing about ants in their pants. brushing for two minutes now, can save your child from severe tooth pain later. two minutes twice a day. they have the time. ♪ tom: washington still fighting over the debt deal. farmers are worried about dairy deal. the farm bill is set to expire at the end of the year...
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Dec 27, 2012
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the senate convened today for emergency session to deal with the fiscal cliff. the house has announced plans to reconvene on sunday. both senate majority leader harry reid and senate minority leader mitch mcconnell spoke a short time ago and neither sounds hopeful of fiscal cliff deal will be made before the deadline. so at this point is there any chance the united states can avoid taking a fiscal cliff dive? joining me for more is republican senator john hoeven of north dakota. and very simply, sir, we appreciate you being here but is harry reid right? are we going off the cliff? >> well, adam i hope he is not right. at this point president obama indicated he is going to call and talk to our leader, mitch mcconnell, senator mcconnell and make a proposal. we're very interested to see what that proposal is. we put revenues on the table. there needs to be some savings. and i believe we can get a deal so let's go. adam: what will the do look like? the president at one point actually upped what he was willing to tax. he wants taxes. originally saying on incomes of 2
the senate convened today for emergency session to deal with the fiscal cliff. the house has announced plans to reconvene on sunday. both senate majority leader harry reid and senate minority leader mitch mcconnell spoke a short time ago and neither sounds hopeful of fiscal cliff deal will be made before the deadline. so at this point is there any chance the united states can avoid taking a fiscal cliff dive? joining me for more is republican senator john hoeven of north dakota. and very...
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Dec 27, 2012
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tonight's question, who will the public blame if we go over the fiscal cliff? text a for democrats, text b for republicans to 622329. i'll bring you the results later in the show. >>> joining me now is congressman elijah cummings of maryland. welcome to the show. >> it's good to be with you. >> what do you make of the latest posturing. the house will they reconvene before january? they have a lot of stuff to do, so clearly they can't make it back to d.c. to do the people's business. >> as you said a few minutes ago, we have been assured we would be given at least 48 hours notice before we would have to come back, that means right now, is that probably the earliest we will come back is saturday morning. that would only leave saturday and sunday to get anything done, because i doubt that the house will be in session on new year's eve. i doubt it. >> right. >> basically what you're talking about right now, we have two days. this has been a game that's been played on this. this plan b that mr. boehner put forth was everybody knew it wasn't going anywhere. and sadly
tonight's question, who will the public blame if we go over the fiscal cliff? text a for democrats, text b for republicans to 622329. i'll bring you the results later in the show. >>> joining me now is congressman elijah cummings of maryland. welcome to the show. >> it's good to be with you. >> what do you make of the latest posturing. the house will they reconvene before january? they have a lot of stuff to do, so clearly they can't make it back to d.c. to do the people's...
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all of this the battle over the fiscal cliff. joining us is arch laugher, former advisor to president reagan and a valued guest on "varney and company". welcome back. >> thank you. lovely to be of value. stuart: i like the word value. >> it is a wonderful word. stuart: we have forgotten the true meaning of value but that is another story. i have been saying throughout the day that i think there may well be a fiscal cliff deal and that deal would be higher taxes now, immediately, promises of spending cuts down the road and according to richard trumka, don't care about the deficit. you go along with that? is that the kind of deal that might shape up? >> it makes sense. frankly republicans have lost heart. they shouldn't have but they have. that is the type of deal you will see happening and you will see a fiscal cliff. i don't like to call it is cliff. i like to call it tax armageddon. of the tax rate on the rich don't you will see a poor performance in 2013. you are going to see it anyway because people have already shifting, out
all of this the battle over the fiscal cliff. joining us is arch laugher, former advisor to president reagan and a valued guest on "varney and company". welcome back. >> thank you. lovely to be of value. stuart: i like the word value. >> it is a wonderful word. stuart: we have forgotten the true meaning of value but that is another story. i have been saying throughout the day that i think there may well be a fiscal cliff deal and that deal would be higher taxes now,...
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Dec 27, 2012
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poll, 54% approve of his handling of the fiscal cliff. only 26% support joan boehner. so the politics of it is not even working for them. they're purists, but they're not being practical, even politically. everyone as they don't stand for what you and i may think is the right thing. they're not even being practical about this. >> well, with taxes, it's so complicated because the republican party has basically got taxation at the heart of its ideology. so what they're almost in a position -- they've force ed ths into a corner where what they almost sl to do is let the cliff kick in so that then they can vote to go back and reinstate some tax cuts as opposed to somehow translating any kind of vote they take, you know, grover nordquist was going to stand up and say they raised taxes on the wealthy. at this point, they've got the situation so backwards, that they're going to have to let the cliff kick in. >> let me ask you this quickly. we've got some good economic news yesterday. weekly unemployment claims have fallen to the lowest since mar
poll, 54% approve of his handling of the fiscal cliff. only 26% support joan boehner. so the politics of it is not even working for them. they're purists, but they're not being practical, even politically. everyone as they don't stand for what you and i may think is the right thing. they're not even being practical about this. >> well, with taxes, it's so complicated because the republican party has basically got taxation at the heart of its ideology. so what they're almost in a position...
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Dec 29, 2012
12/12
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FBC
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well, forget the fiscal cliff. washington might be sending cows off a cliff. ♪ this family used capital one venture miles to come home for the holidays. that's double miles you can actually use... sadly, their brother's white christmas just gotblacked out." [ brother ] but it's the family party! really jingles your bells, doesn't it? my gift to you! the capital one venture card! for any flight, any time! that's double miles you can actually use! how illuminating. what's in your wallet? let me guessam on the naughty list again? ho ho ho! pizza hut's $10 any pizza on deal is back.ist again? any pizza, toppings, sis. ...ten bucks. the meat lover's pizza. ...ten bucks. delivery, dine in or carry. ...out of this world pizza. pizza hut's $10 any pizza deal is back. now, that's how you make it great. ♪ tom: washington still fighting over the debt deal. farmers are worried about dairy deal. the farm bill is set to expire at the end of the year along with everything else that is going on. the senate agricultural committ
well, forget the fiscal cliff. washington might be sending cows off a cliff. ♪ this family used capital one venture miles to come home for the holidays. that's double miles you can actually use... sadly, their brother's white christmas just gotblacked out." [ brother ] but it's the family party! really jingles your bells, doesn't it? my gift to you! the capital one venture card! for any flight, any time! that's double miles you can actually use! how illuminating. what's in your wallet?...
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but maybe we get through the fiscal cliff, but then another fiscal cliff comes, that's the whole point of this. >> in fact, and there was a proposal this week to try it get rid of the fiscal cliffs and no longer give congress full power to extend the debt. but i think, i'll tell you what, i'm kind of curious to see the other guys, i think we're going over the fiscal cliff because i think that congress would much rather have us go over the fiscal cliff and then vote to lower taxes and increase spending and they can't bare to raise taxes and reduce spending and that's where we'll end up in three months and have a vote to lower taxes and increase spending. >> jonas what does it do in the short-term, i know you're talking long-term. but short. >> they'recaring everybody about this, like we've got to keep pushing on or the world is going to end and it's not as bad a the politicians are pretending it is even. look, it's not a gd thing, but psyched into a level and it will be worse than the rea ffect of having the tax increase on the government level and that's the danger, using it as a tool
but maybe we get through the fiscal cliff, but then another fiscal cliff comes, that's the whole point of this. >> in fact, and there was a proposal this week to try it get rid of the fiscal cliffs and no longer give congress full power to extend the debt. but i think, i'll tell you what, i'm kind of curious to see the other guys, i think we're going over the fiscal cliff because i think that congress would much rather have us go over the fiscal cliff and then vote to lower taxes and...
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Dec 27, 2012
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it's becoming more of a fiscal slope as oppose to a fiscal cliff. thank you within kelly. jonathan, i want to turn to you right here. harry reid was not holding back this morning on the senate floor. i want to play what he said about the 435 members in the house. >> there's 435 members of the house. what goes on in this country shouldn't be decided by the majority. it should be decided by the whole house of representatives. the speaker just has a few days left to change his mind. but i have to be very honest, mr. president, i don't know timewise how it can happen now. >> and we just heard from kelly about this possible new deal the president has sent over regarding the fiscal cliff. harry reid, though, there's not a lot of time left. >> no, there isn't a lot of time left. what the majority leader is referring to is we've been talking about a lot, the majority of the majority real that if boehner would put aside this tradition that if he's going to get anything passed, it has to be passed bay majority of the republican caucus. clearly there have been times on the little and
it's becoming more of a fiscal slope as oppose to a fiscal cliff. thank you within kelly. jonathan, i want to turn to you right here. harry reid was not holding back this morning on the senate floor. i want to play what he said about the 435 members in the house. >> there's 435 members of the house. what goes on in this country shouldn't be decided by the majority. it should be decided by the whole house of representatives. the speaker just has a few days left to change his mind. but i...
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Dec 27, 2012
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>> i think you have to look at this more than as a fiscal cliff but as a fiscal slide. what we're doing is we're beginning a slide and we're going to slide slowly if we don't do something by february we'll have a debt limit crisis that will also cause us so accelerate and reduce the confidence in the united states of america, which is something we should not allow to have happ happen. by march, all of a sudden there will be a payroll in tax increases in terms of what people have to pay whether it's estimated taxes or if your payroll, all these things will make it more difficult. we'll watch declining effort. this is not the same level as what the euro crisis is. the euro crisis is something that's not in the european's control as much as they'd like. it's in the control of congress, in control of the president. this is something we can fix if we want to. we have to get the political will and financial will to do so. >> but you mention the euro crisis and we're not there yet, but the big question is, can we get there? >> if this goes on until the end of the year, the end
>> i think you have to look at this more than as a fiscal cliff but as a fiscal slide. what we're doing is we're beginning a slide and we're going to slide slowly if we don't do something by february we'll have a debt limit crisis that will also cause us so accelerate and reduce the confidence in the united states of america, which is something we should not allow to have happ happen. by march, all of a sudden there will be a payroll in tax increases in terms of what people have to pay...
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Dec 1, 2012
12/12
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you have washington elite chanting fiscal cliff, fiscal cliff, hoping to convince republicans to do something stupid because the alternative would be going off the fiscal cliff. it is and of people, the very people trying to bully us now. all you have to say is let's break it into 12, 15 foothills, no cliffs. now one by one, solve each of the smaller problems until we get to some solutions. you don't have to panic over this i want to confess something. what i outlined for you, i copied from tip o'neil. when he was faced with ronald reagan in 1981, he knew he couldn't beat him in head-to-head negotiating but thought he could preserve the democratic party and welfare state in a long battle of attrition. o'neil who had a ran senate, republican president, used the power of house over and over again to slow the momentum. i think republicans got to understand they are not going to get any good deal from barack obama. he has contempt for them. he shows that on a regular basis. he's a hard-line left winger. they've got to think through the american people have chosen him he's going to be ou
you have washington elite chanting fiscal cliff, fiscal cliff, hoping to convince republicans to do something stupid because the alternative would be going off the fiscal cliff. it is and of people, the very people trying to bully us now. all you have to say is let's break it into 12, 15 foothills, no cliffs. now one by one, solve each of the smaller problems until we get to some solutions. you don't have to panic over this i want to confess something. what i outlined for you, i copied from tip...
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Nov 28, 2012
11/12
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cliff, and the odds are very low that we will go over that fiscal cliff. so, does this change anything in the trading community other than just not having this outlet? > > i think smart traders stay away from markets like gold and oil because volume is the key. without big volume, you don't distill that information that you need to make a decision. so, i don't think it is going to dissuade anybody. but if you really wanted to trade these markets, just like online poker, there are ways to do it, even if you are in the united states. but they are probably better to stick to the prediction business, because that is what they do best. > the statement appears on intrade's site, as he alluded to. it is calling the report of intrade's death premature, and that there are plans for a new exchange model to make it legal. hugh, any thoughts on what a new model could look like? what can they do, move to the cayman islands? > > they are in dublin right now, so i don't think a movement is what's in store. but i think what they are going to have to do is they are going t
cliff, and the odds are very low that we will go over that fiscal cliff. so, does this change anything in the trading community other than just not having this outlet? > > i think smart traders stay away from markets like gold and oil because volume is the key. without big volume, you don't distill that information that you need to make a decision. so, i don't think it is going to dissuade anybody. but if you really wanted to trade these markets, just like online poker, there are ways to...
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Dec 27, 2012
12/12
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CNBC
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only four hours to go until america goes over the fiscal cliff. the dow jones industrial average down 113 points. had been down 148 points. look at that as we come on the air back above 13,000 level, not by much. the nasdaq, the biggest decline. 33 points. below 3,000 now at 2957. actually, hasn't been below 3,000 before that. s&p lower by 14 points. a decline of 1%. 1405 so holding onto the 1400 level. president obama is back at the white house. all eyes are on senate lawmakers now. amam jabbers is in washington. >> reporter: president obama did cut his vacation short in hawaii. he has arrived back at the white house this morning. the president emerging from marine one. what he's going to work on here in washington is pretty much anybody's guess at this point. the senate came back into session this morning and senate majority leader harry reid took to the senate floor to explain that he thought a $250,000 and above extension of the tax -- bush tax cuts could, in fact, pass and he was extremely, extremely angry in ways that you really hear on the
only four hours to go until america goes over the fiscal cliff. the dow jones industrial average down 113 points. had been down 148 points. look at that as we come on the air back above 13,000 level, not by much. the nasdaq, the biggest decline. 33 points. below 3,000 now at 2957. actually, hasn't been below 3,000 before that. s&p lower by 14 points. a decline of 1%. 1405 so holding onto the 1400 level. president obama is back at the white house. all eyes are on senate lawmakers now. amam...
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121
Dec 27, 2012
12/12
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FBC
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it will depend on the fiscal cliff. if we go off the cliff and stay off of the cliff when we plummet down, in the next six to nine months. if they say they are going off of the cliff now but going to fix it early next year may be markets give washington a month or two to get their house in order. if that happens we will tread water for a while but not going to see a real problem. i don't think there's a cliff on january 1st that we cannot change withholdings, keep government spending going at the rate it is going so even though they don't fix it which is the way it looks right now doesn't mean we are going to tank right away in january provided markets believe eventually washington will get it done. lori: if you look of the message a number markets today, pete sell-off, stocks piling into treasuries, gold is up and oil is backing off, you have to wonder what is around the corner. can you be bullish at all at this point? >> you can be very bullish if you look at the labour market data today, provided they get this thing
it will depend on the fiscal cliff. if we go off the cliff and stay off of the cliff when we plummet down, in the next six to nine months. if they say they are going off of the cliff now but going to fix it early next year may be markets give washington a month or two to get their house in order. if that happens we will tread water for a while but not going to see a real problem. i don't think there's a cliff on january 1st that we cannot change withholdings, keep government spending going at...